• Citic average debt/equity ratio for 2023 was 1.26, a 3.28% increase from 2022.
• Citic average debt/equity ratio for 2022 was 1.22, a 15.28% increase from 2021.
• Citic average debt/equity ratio for 2021 was 1.44, a 9.92% decline from 2020.

Debt/equity ratio can be defined as a measure of a company's financial leverage calculated by dividing its long-term debt by stockholders' equity.